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Wednesday, June 19, 2013

Boardroom Maneuverings May Dictate Next Moves at Two Luxury Hotel REITs

National Commercial Real Estate News From CoStar Group

Boardroom Maneuverings May Dictate Next Moves at Two Luxury Hotel REITs

As the hotel investment market has started heating up, so too has the jockeying for control of two luxury hotel REITs: Morgans Hotel Group Co. and Strategic Hotels & Resorts.

Morgans Hotel Group Co. had been preparing to explore a sale of the company should its board of director nominees get re-elected at last week’s annual meeting. However, this week the firm's senior management is re-evaluating options after stockholders voted out its entire...